INSIGHT ISSUE 1 | 2022

31 PRYSMIAN GROUP ANNOUNCES €1 BILLION PLANNED INVESTMENTS BY 2024 TO SUPPORT ENERGY TRANSITION INSIGHT | Quarterly Overview Prysmian Group has increased its planned investments to about €1 billion by 2024, mainly targeted at developing businesses that support the energy transition, which is coming into sharper focus because of geopolitical events. “Development of the trans-European power grid plays a strategic role in decarbonization and in the transition to renewable sources, as well as in improving EU energy autonomy — an urgent need that has returned to the fore with the RussiaUkraine conflict. As a global leader in the cable industry, we have decided to increase investments chiefly in support of energy interconnection projects and connections for renewable sources," comments Valerio Battista, Prysmian Group's CEO. This is a major investment plan aimed to consolidate Prysmian’s approximately 35-40% share in the high voltage submarine and underground cable market, which is set to grow to as much as over €8 billion a year in terms of projects awarded (2025 forecasts). In 2021 Prysmian acquired projects worth €4.8 billion. In early 2022, the Group was awarded the contract to build Neu Connect, the first power interconnection between Great Britain and Germany, a milestone project within the construction of the pan-European power grid. Significant investments will be made in expanding the production capacity and technological equipment of the key excellence centres for power transmission submarine cables. An investment of over €80 million will go to the Arco Felice (Naples) plant, which will be expanded, to increase capacity for awards including the Tyrrhenian Link interconnection. An investment of over €100 million will go to the Pikkala (Finland) factory, a centre of excellence for Northern Europe particularly focused on offshore wind farm cabling projects. Prysmian Group will also expand production capacity at the Nordenham plant (Germany) and in Drammen (Norway). The Gron plant in France, where the €1.8 billion in cables needed for the German HVDC “German Corridors” project are being made, will also get new investment. The Group is also accelerating its plan to build the first high-voltage submarine cable facility in Massachusetts, USA, which with an investment of approximately €200 million will be a hub of strategic importance for the development of the offshore wind power industry in the United States. The plant is necessary to support three new orders in 2021 in the U.S. market.

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